Contrary to the public belief of mass unemployment in the IT industry, it has been claimed by industry’s authority Dr. Umar Saif that the number of IT graduates fall short of the nation’s demand.
Dr. Umar is the current Vice Chancellor of the Information Technology University in Lahore along with being the head of Plan 9, a startup incubator based in Arfa Software Technology Park in Lahore.
Dr. Umar commented that the lack of critical thinking in graduates is one of the main obstructions in having a well-informed, globally recognized labor force.
It is a widely agreed upon the opinion that the unavailability of investment plays a huge role in the low amount of tech startups in the country. To start off with, the amount of capital required to power up startups is in the hand of a few people who have little or no business knowledge outside the realm of textile and real estate.
This lack of awareness leads to a major shortfall of investment required to finance new ventures. In order to encourage tech startups, we must work to change this mentality and bring a change in ourselves.
In the short run, investment by Pakistanis based abroad can be vital in encouraging new businesses. People living in technologically advanced countries must be aware of the prospects of tech startups and thus be more confident in investing in them here.
Thinking long run, celebrity endorsements and interest can play a significant role in encouraging others to invest in tech startups. Considering the significant love for the sport of cricket in the public, endorsements by cricketers are likely to reduce the doubts of other investors.